✉news BusinessBanking first seen 10 h ago, last 1 h ago, peak #1
Bank of England official admits fumbling first response to Iran shock
Original: Bank of England official says central bank mishandled its first response to Iran shock
A Bank of England official has said the central bank mishandled its initial response to the shock from events involving Iran, according to Reuters. The admission points to internal criticism of how quickly and effectively the bank reacted when the geopolitical shock hit markets. It is not yet clear which official made the remarks or what specific policy decisions are being criticised.
Why now: A senior central bank official's public admission of a policy misstep during a major geopolitical shock is unusual and raises questions about the bank's crisis response.
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